Islamic Mutual Funds

[Che -Guevara]

Does anyone have account with Amana Mutual or the Iman fund. Just wondering if anyone has personal experience with them, perhaps opened any IRA with them.

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[N.O.R.F]

The Islamic finance market is growing at a rapid pace. I have many Islamic products and will latch onto the National Bonds soon IA.

[Che -Guevara]

^Sounds interesting. Do post if you see any another investment vehicles that's Sharia complaint and with good returns.

 

 

Muslims have the best shot among social and religious investors to do well as they do good. Amana Mutual Funds Trust Growth Fund (AMAGX) is an outstanding investment portfolio run along Islamic lines

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[Sophist]

ALburcaawi, I had an interview with a Private Equity /Commodity Merchant bank majority owned by DIFC. Actually, they are client of mine and I jokingly suggested to the SEO (Senior Exec Off) that it might be ideal to join them-- then an hour of discussions ensued. He will be speaking with the CEO- An American; I met the guy couple times and will ether have an offer on the table on Monday and will be told where to go . I might be joining you soon.

 

These guys invest Shariah Complaint commodity and utilities globally. We are helping them build Shariah complaint Commodity Index.

 

Question for you. I am told the rent is hight in Dubai these days. How much would two bed room Villa or apartment closer to the DIFC? Somewhere Zabeel Road or Sheikh Zayyed road? These guys would pay $30k annually for the accommodation; would this be sufficient?

[N.O.R.F]

^^You're welcome but $30k a year is not enough for a villa in Dubai. A 2 bed apartment yes even that would have to be on the outskirts. $40k should cover it.

 

Living in Dubai depends on if one drives. If you're going to be based in the DIFC, areas adjacent like Al Mankhool and Al Safa would be ideal (but high rents). Be mindful that DIFC area has alot of buildings and very little parking space so request a parking spot

 

Let me know how it goes and I'll give you a crash course on everything Dubai.

[Sophist]

Northerner,

 

Thanks for that. The problem is I don't drive ; shock horror!!! I never needed to actually because I have always lived close proximity to the city and where I went to University, everyone biked. Anyhow, the potential employer told me that that wont be an issue as taxis are cheep.

 

The areas you have mentioned, how close are they to the DIFC-- 10 mins drive; or even 5? And your approximation, would a villa in this part of Dubai be $40k per annum or more?

 

Let me know please before Monday; if the call is positive then I might go and see the chap to finalise the details.

 

S

 

PS: Private education, how costly is that? $8k be sufficient?

[N.O.R.F]

Those areas ar 10-15 min drive and taxis in Dubai are cheap when you can find one. A villa in those areas would cost alot more. $60 per year should cover it.

 

Private education depends on the age of the child and what school you want. There are schols in those neighbourhoods. Not sure what the costs are though.

[Sophist]

I see; that is a bit pricey!

 

North, just pm'ed you.